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Nvidia was up a measly 1% today despite the exciting presentation, after Monday's close, by CEO Jensen Huang about the company's future in the AI ecosystem. He announced a new generation of GPU chips and software for running AI models. The first chips in the new Blackwell platform will be shipped later this year. They are more powerful (with a five-fold increase in petaflops) and consume less energy than the current ones. On CNBC today, Huang estimated that one chip will cost $30,000 to $40,000.
Today's lackluster gain in Nvidia's stock price suggests that the stock and the overall stock market have discounted a lot of good news. Also holding the market back is the realization that Fed Chair Jerome Powell may dial back tomorrow on his March 7 congressional testimony suggesting that interest rate cuts are coming soon:
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